The Outlook for Taxes in 2015

This Year Could See Congress Tackle a Tax Overhaul

The new year could bring important changes to the tax landscape. Here are several issues that will affect how much taxpayers owe for 2015 and beyond:

Federal tax policy

There is serious talk of overhauling the federal tax code. “There appears to be a consensus” on making changes, says Stephen Baxley, a tax specialist at Bessemer Trust—though it isn’t clear if Congress will agree on the details.